Solend Crypto Explained: How the Solana-Based Lending…
By Damilola Esebame
Source excerpt · FinanceFeeds
KEY TAKEAWAYS Solend, which rebranded as Save in July 2024, is a decentralized lending protocol on Solana that launched in 2021 and saw its total value locked peak near $1 billion before the 2022 FTX collapse. Users deposit assets into liquidity pools and receive tokenized receipts representing their deposits and accruing interest, while borrowers must over-collateralize positions according to the…